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Market Live
July, 20th 2009

10:55 am: Nagarjuna Construction Company Ltd has secured three new orders aggregating Rs 776 crores. The first order for Rs 600 crore is from the Employees State Insurance Corporation, New Delhi, for construction of medical college at Mandi, Himachal Pradesh. The second order is from the Mazgaon Dock Ltd, Mumbai for Mazgaon dock modernisation project and is valued at Rs 136 crore. The thirs order is from the National Institute of Technology, Assam for construction of 500 capacity boys' hostel and is valued at Rs 40 crore.

The stock was up 0.86% at Rs 135.30 on the BSE, on the back of the order wins.

10:51 am: Petronet LNG Ltd has posted a net profit of Rs 1033.120 million for the quarter ended June 30, 2009 compared to Rs 1056.467 million for the same quarter of 2008. Total income has increased to Rs 26412.255 million from Rs 16625.044 million for the quarter ended June 30, 2008.

The company's share was down 5.18% at Rs 68.65 on the BSE, following the results.

10:50 am: Gujarat NRE Coke Ltd has posted a net profit of Rs 36.40 million for the quarter ended June 30, 2009, down 96% from Rs 944.00 million for the corresponding quarter of 2008. Total income of the company has decreased to Rs 3346.50 million for the quarter from Rs 3821.20 million in the year ago quarter.

Despite this, the company's stock was up 4.50% at Rs 47.65 on the BSE.

10:44 am: Time Technoplast Ltd has announced plans to set up manufacturing operations in Tianjin region in China. The company has entered into an agreement with the Chinese government for land for the project on long lease basis. The project envisages total investment outlay of $10 million in the first phase and shall manufacture intermediate bulk containers and packaging drums. The operations are expected to commence in the first quarter of next financial year.

Shares of the company were higher by 7% at Rs 39.70 on the BSE, following this announcement.

10:30 am: Karvy Stock Broking advises staying long above 4380 levels on the Nifty. Domestic markets are likely to open on positive note following the strong Asian indices. Traders are advised to stay long above 4380 else from lower levels of 4320 levels with a final stop loss placed below 4280 levels. Investors are advised to remain cautious and play levels specific due to the corporate results which will set the trend for a directional movement in the near term on either direction, says a technical note of the brokerage.

10:26 am: Suzlon Energy Ltd will soon launch an offering of zero coupon convertible bonds in the international capital markets for an aggregate of $70 million with an option to raise the issue to $ 90 million. The initial conversion price of the convertible bonds will be the higher of (i) the Volume Weighted Average Price for the 10 consecutive trading days ending on the Launch Date; and (ii) the regulatory floor price determined in accordance with applicable regulations of the Ministry of Finance and RBI regulations. The convertible bonds to be issued pursuant to the offer shall be issued at 104%-105% of the face value.

Shares of the wind energy turbine maker were down 1.15% at Rs 94.50 on the BSE.

10:06 am: The only losers among the 50 Nifty stocks were Reliance Infrastructure (-1.18%), Cipla (-0.52%), State Bank of India (-0.44%), ITC, Hero Honda Motors.

10:04 am: The early Nifty gainers included Tata Consultancy Services (10.63%), Wipro (6.97%), Reliance Industries (2.99%), Unitech, DLF, Infosys Technologies, Sterlite Industries, Cairn India, HCL Technologies, Mahindra & Mahindra.

10:00 am: The Indian stock markets opened on a positive note Monday, with the Nifty starting the week at 4377.90 against Friday's close of 4374.95. The NSE benchmark index touched a high of 4453.45 in the few minutes of trade. It settled at 4440.90, higher by nearly 66 points or 1.51%.

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